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Tern plc ( (GB:TERN) ) has issued an update.
Tern Plc has announced an underwritten Open Offer to raise approximately £642,486 through the issuance of 64,248,646 Open Offer Shares at a price of 1.00p per share. This initiative aims to provide all qualifying shareholders the opportunity to participate, with the offer being fully underwritten by CMC Markets UK Plc. The funds raised will support Tern’s strategy of maximizing the value of its portfolio companies and pursuing strategic exits or reinvestment opportunities. The Open Offer is conditional upon the admission of the shares to trading on AIM, with dealings expected to commence on 31 July 2025.
More about Tern plc
Tern Plc is a company focused on value creation from Internet of Things (IoT) technology businesses. It is involved in nurturing and growing early-stage technology companies, with a market focus on enhancing the value of its portfolio companies through strategic engagements and introductions to new markets, particularly in the USA.
Average Trading Volume: 2,486,843
Technical Sentiment Signal: Strong Sell
Current Market Cap: £6.39M
For detailed information about TERN stock, go to TipRanks’ Stock Analysis page.